Nortel Calls It Quits, Gives Up On Restructuring
Nortel Networks, currently in bankruptcy protection both in the U.S. and Canada, has said that it will no longer attempt to restructure and revive its business. Instead, it will attempt to sell the remaining business units off. This news follows closely the recent announcement that Nokia Siemens Networks will purchase Nortel's CMDA / LTE businesses for $650 million. Nortel has not named suitors for its other business units. The company was once one of the premiere providers of networking equipment to wireless network operators, but a series of financial issues weakened it considerably before the worldwide economic downturn further crippled it. Nortel did not provide any information about how long it expects to continue operations, nor when it will permanently close.
Sony Scoops Up Altair, Merges Entertainment Businesses
Sony has agreed to purchase Altair Semiconductor for $212 million in a move meant to help shore up its chip business. Sony has invested heavily in building production capacity to meet demand for mobile components, such as smartphone camera sensors.
BlackBerry Sues Nokia Over Patents
BlackBerry filed a patent infringement lawsuit against Nokia this week. BlackBerry claims Nokia is using its patented technology in select telecommunications equipment that Nokia sells to network operators, such as T-Mobile, without the proper licenses.
Opera Divests TV Business
Opera Software today said it has sold its connected TV business to Moore Frères & Company, an investment and holding firm. Opera TV's software allows smart TVs and other connected consoles to stream video over the internet.
Verizon to Buy Yahoo's Internet Business for $4.8B
Verizon Communications today said that it has agreed to buy Yahoo's core internet and search businesses for $4.83 billion. Yahoo's properties will join AOL under Verizon's ownership, to be managed by Marni Walden, EVP and President of the Product Innovation and New Businesses organization at Verizon.
Nortel Going Down
If you asked me 4 or 5 years ago that Moto would still be around and Norte...